Buisness vocab

a transfer of right a party may have under a contract to another

one who owes a duty under a contract

th fulfullment of contractual promises as agreed

a termination of duties that ordinarily occurs when the parties perform as promised

failure to complete performance

when just about all the duties are performed but a minor duty under the contract remains

fails to perform

when a party who defaults notifies the other party to a contract before the time of performance has arrived that he or she will not perform

a material change in the terms of a written contract without the consent of the other party.

a ready, willing, and able offer to perform an obligation

the action or procedure followed to enforce a right or to get damages for an injury to a right

to decree that the breaching party do exactly what was required under the contract

to take reasonable steps to minimize the harm done.

when a party intentionally and explicitlly gives up a contractual right

statutes in all states deny any remedy if suit is not brougght within a certain time after a legal claim, such as breach of contract arises.

mutual duties of the wife and husband

an agreement in which marital partners give up any future claim they might ahve to part or all of the other's property

a court oder that cancels a marriage because of a problem that existed from the beginning of the marriage.